What is the role of entrepreneurs in capitalist society? How effective are technological policies in changing institutions? Are the economic systems of the United States, Europe and Asia converging? In answer to these questions distinguished contributors - including Paul Krugman - focus on the theoretical foundations of the evolution of capitalist institutions. They apply these theoretical insights to the firm, sectors and economic systems.

The combination of recent developments in theory with empirical studies will ensure that this book is essential reading for all those interested in evolutionary and institutional economics, political economy, technology policy, innovation and knowledge.